According to IMARC Group’s latest report, titled “Cryogenic Valves Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027. The global cryogenic valves market reached a value of US$ 1.88 Billion in 2021.Cryogenic valves refer to the valves that are designed for utilization in freezing applications in chemical, liquified natural gas (LNG), or air separation plants. They are generally retained in a closed position to keep the contained gases secure and safely contained. Cryogenic valves react to high pressures by being pushed into the open position to permit the free flow of the gases. They help in minimizing the heat that enters from the outside and keeping the stem and parts above the bonnet from frosting or freezing. Cryogenic valves are available in various shapes and sizes and perform well under several pressure ranges. They are extensively used across numerous industries, including chemical, energy, food and beverage (F&B), healthcare, etc.
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The increasing product utilization in the oil and gas industry is one of the key factors driving the cryogenic valves market. In line with this, the rising levels of oil and petrochemical production across the globe are further catalyzing the market growth. Moreover, the growing demand for cryogenic gases for cryosurgery in the healthcare industry is acting as another significant growth-inducing factor. In addition to this, the expanding applications of these valves in rock concerts and theater stages are also augmenting the global market. Furthermore, the inflating requirement of the product variants in the F&B industry, since they are effective, affordable, and do not affect the color, taste, flavor, etc., of the food, is expected to fuel the cryogenic valves market over the forecasted period. Looking forward, IMARC Group expects the market to reach US$ 2.43 Billion by 2027, exhibiting at a CAGR of 4.3% during 2022-2027.
Competitive Landscape:
- Bac Valves
- Bray International Inc.
- Cryofab
- Emerson Electric Co.
- Flowserve Corporation
- Habonim
- Herose GmbH
- L&T Valves Limited
- Larsen & Toubro Limited
- Parker-Hannifin Corporation
- Powell Valves
- Samson Aktiengesellschaft
- Schlumberger Limited
- The Weir Groupm PLC
- Velan Inc.
Key Market Segmentation:
Breakup by Product:
- Ball Valves
- Check Valves
- Gate Valves
- Globe Valves
- Others
Breakup by Gas:
- Liquid Nitrogen
- Liquid Helium
- Hydrogen
- Oxygen
- Others
Breakup by End Use Industry:
- Chemical
- Oil and Gas
- Energy and Power
- Food and Beverages
- Medical
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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